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Numerous companies to be wound up by big 4 liquidators

Two partners from a big four firm have been appointed liquidators to 18 companies associated with Macro Group, and have been ordered by the Federal Court of Australia to wind up all associated companies.

Today, the Federal Court of Australia granted the application, with Justice Barker appointing Mr White and Mr Woods as joint and several liquidators of 18 companies. MacOften Pty Ltd was the only company from ASIC’s application that the Federal Court didn’t appoint liquidators to.

Justice Barker made orders to wind up the companies on the grounds that it would be just and equitable to do so, following concerns from ASIC that the companies have been involved in multiple breaches of the Corporations Act, were not being properly managed, and were potentially insolvent.